Renovated Four-Unit
5629 Cleon North Hollywood, CA 91601
For Sale
$1,285,000
Fully leased four one-bedroom units with separately metered gas and electric and on-site parking, including a renovated Unit D.
Property Size2,080 SF
Price / SF$617.79
Days on Market83
Property Features for 5629 Cleon
General Information
- Standard status
- Active
- Size
- 2,080 SF
- Property subtype
- MULTI_FAMILY
Building Details
- Year Built
- 1954
Listing Agency:
Myunits.com Inc.
(805) 973-7470
Listed By:
Cheyenne Womack · License #02064825
Source:
Benbelack
Added: May 5
Changed: Jul 24
Last Checked: Jul 25 at 12:30PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Myunits.com Inc.
Investment Insights
Based on property information with market context.
5629 Cleon Ave is a fully leased, four-unit multifamily property comprised of an all-one-bedroom unit mix. The asset is stabilized at 100% occupancy, with two units covered under newly executed 2026 lease agreements. Unit D recently underwent an extensive renovation that included updated flooring, countertops, designer bathroom finishes, and new appliances, and it leased shortly after completion.
The property also benefits from separately metered gas and electric services and on-site parking. Recent exterior improvements include fresh paint and new landscaping, supporting a low-maintenance operating profile.
With in-place income and two units leased below market rents as noted in the offering materials, the property combines current occupancy stability with an opportunity to pursue improved revenue through natural tenant turnover and rental rate adjustments.
The property also benefits from separately metered gas and electric services and on-site parking. Recent exterior improvements include fresh paint and new landscaping, supporting a low-maintenance operating profile.
With in-place income and two units leased below market rents as noted in the offering materials, the property combines current occupancy stability with an opportunity to pursue improved revenue through natural tenant turnover and rental rate adjustments.
Key Highlights
- Fully leased four‑unit multifamily built in 1954 with 100% occupancy
- Four 1‑bedroom units; separately metered gas and electric and on‑site parking
- Unit D recently renovated with updated flooring, countertops, designer bathroom finishes, and new appliances
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $56.2k | $27.00 |
| − Vacancy | −$4.3k | −$2.05 |
| EGI | $51.9k | $24.95 |
| − OpEx | −$15.6k | −$7.48 |
| NOI | $36.3k | $17.46 |
2,080 SF · lease $27.00/SF/yr · vacancy 7.60% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$518.9K
$454.1K – $605.4K
NOI $36,324 @ 7.0% cap · market cap 2.83%
Second Best
Apartment 5plus
$478.1K
$418.4K – $557.8K
NOI $33,469 @ 7.0% cap · market cap 2.60%
Theoretical Best
Office A
$1.11M
$974.4K – $1.30M
NOI $77,954 @ 7.0% cap · market cap 6.07%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Quadplexes
FAQs
What type of property is this?
Quadplex - Fully leased four one-bedroom units with separately metered gas and electric and on-site parking, including a renovated Unit D.
Where is this quadplex located?
The property is located at 5629 Cleon North Hollywood, CA.
What is the asking price?
The asking price for this property is $1,285,000.
What are key features of this property?
This property features: Fully leased four‑unit multifamily built in 1954 with 100% occupancy; Four 1‑bedroom units; separately metered gas and electric and on‑site parking; Unit D recently renovated with updated flooring, countertops, designer bathroom finishes, and new appliances
